In a move to widen it offering to its insurance clients, RPC’s consulting arm has branched out from a legal and management focus and into insurance and financial consultancy work with the purchase of UK-based software business Marriott Sinclair.
Founded in 2012, Marriott Sinclair’s main product is a financial modelling tool called tyche that assesses uncertainties affecting the financial outcome of projects, strategies, or business opportunities. The deal will also see three of the business’ principals including Alun Marriott, Mark Sinclair-McGarvie and Jonathan Broughton become partners of RPC Consulting.
In a statement RPC said: ‘Unlike anything the legal sector has seen, no firms to our knowledge have tapped into the financial analyst and insurance management consultancy markets previously. The three principals come from impressive backgrounds in banking, quant finance, systems engineering, and actuarial science.’
The deal will also see RPC Consulting gain access to a research and development base in Cambridge with the arm eyeing further tech products down the line.
The firm launched its consultancy business in February to target its core insurance sector clients, and hired Rory O’Brien, the former global head of risk consulting and software at Towers Watson to spearhead the venture.
On the deal with Marriott Sinclair, managing partner Jonathan Watmough said: ‘This is the next stage in the development of our consulting business and in RPC becoming a broad-based City professional services firm. While a number of others have entered into the management consultancy market, this is the first time a commercial law firm has provided insurance clients with a full menu of actuarial, risk and management consulting services, including the use of a technology solution like tyche.’